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I would have to disagree there. They Fxxxxxxxd themselves by being asleep at the wheel in government and allowing the bankers to go crazy with their lending,

a mandarin taking the blame doccy?

what do you expect

rock on!

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I would have to disagree there. They Fxxxxxxxd themselves by being asleep at the wheel in government and allowing the bankers to go crazy with their lending,

Hang on a minute. Ireland, like all of Europe, has a capitalist economy. No government stopped the banks because the banks were private enterprises supposedly doing their thing. There was light touch regulation but,as I understand it, the whole system of money making was so complex and spread across so many jusidictions that no regulator could have done much even if they wanted to.

Irelands big mistake was nationalising the banks and giving guarantees for their liabilities. The irish people are thinking why should we pay for the banks? Let them sink and let the ECB do what it wants with them. The ECB will have to bail them out anyway otherwise we'll have financial meltdown. Why should the irish taxpayer be made liable?

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I have to agree with doccy, the governments are more responsible than the banks. I would never expect a bank to be anything other than a ruthless corporate money making machine with no social conscience. They were the same during the great depression, there is nothing new under the sun. The governments and their central banks had the power to intervene but chose not to. The governments are the guardians of the economy. They failed.

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I have to agree with doccy, the governments are more responsible than the banks. I would never expect a bank to be anything other than a ruthless corporate money making machine with no social conscience. They were the same during the great depression, there is nothing new under the sun. The governments and their central banks had the power to intervene but chose not to. The governments are the guardians of the economy. They failed.

+1

Capitalism is an imperfect system of encouraging positive contribution, and that 'light touch' regulation was simply an incorrect Government decision at best, at worst it was down right corruption.

If capitalism goes unchecked, say like in consumer goods, you pays your money, it turns out to be shet, the suppliers tells you to feek-iff and uses the money to buy up the competition.

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I have to agree with doccy, the governments are more responsible than the banks. I would never expect a bank to be anything other than a ruthless corporate money making machine with no social conscience. They were the same during the great depression, there is nothing new under the sun. The governments and their central banks had the power to intervene but chose not to. The governments are the guardians of the economy. They failed.

While I understand you're just being realistic, I find the concept that some are excused from having a social conscience, for the purpose of money making, extremely disturbing and the top of a slippery slope.

Worse still that the people expected to keep these amoral money machines in line are politicians.

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While I understand you're just being realistic, I find the concept that some are excused from having a social conscience, for the purpose of money making, extremely disturbing and the top of a slippery slope.

Worse still that the people expected to keep these amoral money machines in line are politicians.

I don't disagree, but I can't see another way of doing competition that doesn't involve being ruthless, but being policed by 3rd parties. If you don't have these 3rd party rules someone else will just out compete you.

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I hope this speeds up the time it will take for me to afford 10-acres of land for my future Irish house for the same price as a reasonably priced new BMW.

Still waiting...

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Irish pension fund to be tapped for €12.5bn

A fund set up to finance public service pensions for those retiring a decade from now is to be used to supplement the bail-out provided by the International Monetary Fund and Ireland’s partners in the European Union.

click on link for more - FT copyrighted

EDIT - if you struggle with the link - go in via google

Edited by p.p.

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seize your pension

then your shiny stuff?

rock on!

if it hapens, it will be the paper variety first

it's all about risk, there are risks with any asset - lands can be taxed prohibitively

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I would have thought more of Cowen et al if they had come out and declared an immediate 50% cut in their salaries and all the rest of the TDs too.

It was too much to hope for though.

http://www.tribune.ie/news/article/2010/nov/28/mcaleese-flew-in-government-jet-before-lecturing-t/

mary( we,re all in this together)Mcaleese dosn,t seem to keen either on cutting down on her luxurious funded by others lifestile, the hypocritical beards in the unions are just as bad holding marches on 6 figure salary,s

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